 | Theft Claims Insurance (modified 0 times) | Mickey | |
I sold my car to a second hand dealer July last year and he promised to settle the outstanding payment to the Bank within 3 months. Meanwhile, he would continue to pay the monthly installment while the car was still registered under my name. He paid me about RM 3,000, being the different between the sellling price and the outstanding amount with the Bank. After 3 months has passed, the dealer not only failed to settle the outstanding amount, but also did not pay the monthly installment. After much persuasion and after which a notice of legal action was served to me by the Bank, he paid the outstanding monthly installment ( Total RM 9,000 )and promised to settle the full payment with the Bank. My name by now is blacklisted by financial institutions. After about 2 months, again he failed to pay the monthly installment. This time I offered to buy back the car from him but he told me the car was actually stolen while being sent for service at an authorised local car service centre/dealer a few months back!
He made a police report and has taken a legal action against the dealer to claim losses as a result from the theft. Since the legal action may take many years ( I could not afford to continue paying the monthly installments )to settle and I am not really sure what would be the outcome, I filed a theft claim with the car insurance ( the car was still insured under my name). After a couple of month, the insurance company has offered to reimburse the market price for the car. Based on the different between the offer by the insurance company and settlement figure from the Bank, there were surplus amount of money returned to me. My question is, the dealer has requested that amount of money paid by him earlier for the installment be returned to him.
Is he legally entitled for the money?
Looking forward to your reply. Thank you. | |
|
|
